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Stocks Record Third Straight Loss

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L – R: Shows Mr. Uaboi G. AGBEBAKU, Company Secretary/ Legal Adviser, Nigerian Breweries Plc; Mr. Victor FAMUYIBO, Human Resource Director, Nigerian Breweries Plc; Mr. Oscar Onyema, CEO NSE; Mr. Nicolaas A. VERVELDE, MD/CEO, Nigerian Breweries Plc; Mr. Haruna Jalo-Waziri, ED, Capital Market Division, NSE and Ade Bajomo, ED, Market Operations and Technology, NSE at the Closing Gong Ceremony in commemoration of the company’s 70th anniversary at The NSE on Wednesday.

21/12/2016/Cordros Research

  • The Nigerian equities market recorded its third straight loss this week, with the All Share Index shedding 0.46% to close at 26,418.11 points.
  • Today’s negative performance reduced the Month-to-Date gain to 4.32%, while it increased the Year-to-Date loss to 8.02%.
  • The Oil & Gas (-3.71%) and Banking (-0.49%) indices declined, owing to selloffs in FO (-9.74%), SEPLAT (-5.00%), STANBIC (-4.95%) and ACCESS (-1.23%) respectively. The Consumer Goods (-0.26%) index also declined, as investors liquidated their positions in UNILEVER (-2.78%) and DANGSUGAR (-3.80%). On the bright side, gains recorded in WAPCO (+2.48%) and CCNN (+4.99%) bolstered the Industrial Goods (+0.59%) index, while the Insurance index closed flat.
  • Market breadth remained positive, with 20 gainers versus 16 losers. Total volume traded increased by 69.35% to 421 million shares, valued at N10.07 billion, and exchanged in 3,937 deals.
  • We expect bearish sentiments to persist in tomorrow’s session.

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